Magyar Telecom falls on MSCI removal


Hungarian operator Magyar Telekom (MYTAY -2.4%) shares fall after MSCI said it will remove the telco from its emerging-markets index on Nov. 26.

Local firm KBC Securities estimates investors may sell as many as 17.3M shares (1.7% of shares outstanding) as a result of the removal.

Investors are also concerned that Magyar may cut its dividend from 50 forint to 20 later this year.

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